Annual Report - JD Group

Segmental analysis – chains
Southern Africa
Russells Joshua Doore Bradlows Price ’n Pride
2004 2003 2004 2003 2004 2003 2004 2003
Revenue Rm 1 877 1 572 1 353 1 174 702 647 788 642
Operating income Rm 469 313 274 197 123 76 153 84
Depreciation Rm 2 2 2 2 1 1 1 1
Total assets Rm 1 379 1 352 977 968 517 513 699 660
Total current liabilities Rm 257 233 198 184 116 96 87 81
Capital expenditure Rm 2 1 2 2 1 1 1 2
Operating margin % 25,0 19,9 20,3 16,8 17,5 11,7 19,4 13,1
Total sale of merchandise Rm 1 099 912 788 689 454 415 405 331
Share of Group sale of merchandise % 17,9 23,9 12,9 18,0 7,4 10,9 6,6 8,7
Credit sales Rm 841 760 576 533 342 324 372 308
Percentage of total % 76,5 83,3 73,1 77,4 75,3 78,1 91,9 93,1
Cash sales Rm 258 152 212 156 112 91 33 23
Percentage of total % 23,5 16,7 26,9 22,6 24,7 21,9 8,1 6,9
Deposit rate on credit sales % 14,2 12,0 17,2 14,4 18,8 18,5 13,8 13,5
Number of stores 199 198 146 149 84 88 118 117
Revenue per store R000 9 432 7 939 9 267 7 879 8 357 7 352 6 678 5 487
Retail square meterage 141 860 139 002 115 712 116 655 63 131 65 121 71 472 69 726
Revenue per square metre Rand 13 231 11 309 11 693 10 064 11 120 9 935 11 025 9 207
Number of employees 3 109 3 016 2 471 2 430 1 399 1 447 1 947 1 912
Revenue per employee R000 604 521 548 483 502 447 405 336
Instalment sale receivables – gross Rm 1 730 1 684 1 176 1 175 570 574 905 838
Bad debts written off
Bad debts written off as a
Rm 113 95 79 64 23 33 98 67
percentage of gross receivables % 6,5 5,6 6,7 5,4 4,0 5,7 10,8 8,0
Receivables’ arrears
Receivables’ arrears as a
Rm 227 282 116 152 51 63 149 189
percentage of gross receivables % 13,1 16,7 9,9 12,9 8,9 11,0 16,5 22,6
Collection rate % 7,0 6,5 7,1 6,7 8,0 7,5 5,9 5,5
Average length of the book Months 14,3 15,3 14,1 14,9 12,5 13,4 16,9 18,3
* The trading results of 19 stores that were closed in the BLNS countries are included in this analysis up until the date of closure but the number of stores, number of employees
and retail square meterage are not shown at the year end. Accordingly, the calculations for revenue per store, per employee and per square metre are overstated. Also included
in “other” are the 7 stores in Mozambique which the Group is in the process of disposing of. The balance of the stores will be integrated in due course.
† These chains were only consolidated for a 5 month period in 2003, therefore certain calculations have not been presented as it is considered that they would not be meaningful.
‡ Businesses disposed of and closed therefore certain calculations have not been presented.
º Operations to be integrated, disposed of and/or discontinued.
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